Stock markets in the United Arab Emirates closed lower on Friday in thin trade ahead of Eid-Al-Adha holidays.
In Abu Dhabi, the index lost 0.5%, with the country’s largest lender First Abu Dhabi Bank (FAB) falling 0.2%, while conglomerate International Holding Company slipped 1.6%, in its biggest decline since March 2023.
Many investors prefer to cash in holdings ahead of the Eid holiday, which lasts for a week in Saudi Arabia, Egypt and at least three days in UAE and other Gulf countries.
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Dubai’s main share index closed up 0.1%, as both blue-chip developer Emaar Properties and lender Emirates NBD Bank gained 0.3%.
Abu Dhabi index was down 0.3% on a weekly basis while Dubai index closed flat this week.
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